Global Hospital Workforce Management Market– Industry Trends and Forecast to 2030

Global Hospital Workforce Management Market, By Offering (Solutions, Services), Deployment Model (Cloud, On-Premise), Organization Size (Large Organization (Multi-Chain), Small & Medium Organization), Application (Recruitment, Time and Attendance Management, Scheduling, Training & Development, Compliance Management, Inventory Management, HR and Payroll, Salary & Compensation Management, Analytics, Others), Pricing Category (Subscription, One Time License), Ownership (Public, Private), End-User (General Medical & Surgical Hospitals, Teaching Hospitals, Community Hospitals, Specialty Hospitals, Others) - Industry Trends and Forecast to 2030.

Hospital Workforce Management Market Analysis and Size

Growing demand for healthcare services drives the global hospital workforce management software market. However, complexities in integrating different workforce management are restraining the growth of the global hospital workforce management software market. The upsurge of development and integration of new technologies is estimated to provide opportunities for global hospital workforce management software market growth. However, the higher probability of data breaches has become a market growth challenge.

Data Bridge Market Research analyses that the global hospital workforce management market which was USD 20,200.00 million in 2022, would rocket up to USD 63,975.00 million by 2030, and is expected to undergo a CAGR of 15.50% during the forecast period. This indicates the market value. General Medical dominates the end-user segment of the Hospital Workforce Management market owing to the growing demand for healthcare procedures. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Workforce analytics can recognize and deal with the loopholes in the firm’s workforce operations and provide a better solution to achieve improved business outcomes. According to a report by IBM Business Services, workforce analytics plays a significant role in HR migration towards a strategic approach from more administrative areas. This drives the interest of the companies to adopt workforce analytics to enhance workforce operations

Global Hospital Workforce Management Market Dynamics

Drivers

• Rising number of surgeries

A growing number of surgical procedures is directly influencing the demand for medical instruments that offer more precision, and emerging technologies, such as wide-angle illumination, red reflex illumination, and augmented reality (AR) microscopy. This in turn is expected to carve the way for the growth of the market.

• Research and development proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted to develop medical instruments is also expected to drive the market growth rate.

• Growing investment for healthcare facilities

Surging focus on improving the condition of healthcare facilities and improving the overall healthcare infrastructure is another important factor fostering the growth of the market. The rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further expected in creating lucrative market opportunities.  

Opportunities

Furthermore, an upsurge in the public-private funding for target research activities, rising demand for minimally invasive surgeries, growing participation of youngsters in sports, and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, the rising internet penetration rate, increasing adoption of arthroscopic surgeries, rise in the elderly and obese population globally, and increasing per capita expenditure on health care will further expand the market's growth rate in the future. 

Restraints/Challenges

On the other hand, high costs associated with research and development proficiencies, limited infrastructural facilities, high costs associated with sports medicine, and a dearth of awareness in backward economies are expected to obstruct market growth. Also, the lack of favorable reimbursement scenarios and technology penetration in developing economies, the heavy customs duty imposed on medical devices, and the lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2022-2029.

This global hospital workforce management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Hospital Workforce Management market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.

Recent Developments

• In November 2020, Elite Dynamics announced a partnership with Microsoft Gold. The partnership help demonstrates expertise in delivering quality solutions for the global holiday park sector. This partnership will be providing first-class software solutions to transform the holiday parks industry and evolve digitally transformation. This will help to improve the brand image of the company.
• In October 2020, MYOB acquired workforce management capabilities with a roubles investment. The company develops an end-to-end business management platform across Australia and New Zealand. The company built artificial intelligence (AI) enabled workforce management solutions for its customer base.

Global Hospital Workforce Management market Scope

The global hospital workforce management market is segmented on the basis of offering, deployment model, organization size, end-user, application, pricing category, and ownership. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Offering

• Solutions
• Services

Deployment Model

• Cloud
• On-Premise

Organization Size

• Large Organization (Multi-Chain)
• Small & Medium Organization

Application

• Recruitment
• Time and Attendance Management
• Scheduling
• Training & Development
• Compliance Management
• Inventory Management
• HR and Payroll
• Salary & Compensation Management
• Analytics
• Others

Pricing Category

• Large Organization (Multi-Chain)
• Small & Medium Organization

Ownership

• Subscription
• One Time License

End-User

• General Medical & Surgical Hospitals
• Teaching Hospitals
• Community Hospitals
• Specialty Hospitals
• Others

Global Hospital Workforce Management Market Regional Analysis/Insights

The global hospital workforce management market is analysed and market size insights and trends are provided on the basis of offering, deployment model, organization size, end-user, application, pricing category, and ownership as referenced above.

The countries covered in the global hospital workforce management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to dominate the global hospital workforce management market because of the strong base of healthcare facilities, the strong presence of major players in the market increases cases of surgical procedures among athletes, and the rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in medical infrastructure, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The global hospital workforce management market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the global hospital workforce management market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the global hospital workforce management market. The data is available for the historic period 2015-2020.

Competitive Landscape and Hospital Workforce Management Market Share Analysis

The global hospital workforce management market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global hospital workforce management market.

Some of the major players operating in the global hospital workforce management market are:

• ATOSS Software AG (Germany)
• Cornerstone (U.S.)
• WorkForce Software, LLC (U.S.)
• Quinyx AB (U.S.)
• Timeware Inc (U.S.)
• Zebra Technologies Corp (U.S.)
• Workday, Inc. (U.S.)
• GE HealthCare (U.S.)
• Oracle (U.S.)
• IBM Corporation (U.S.)